Climb Bio, Inc. (NASDAQ:CLYM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have received an average rating of “Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.7273.

A number of equities research analysts recently commented on CLYM shares. Mizuho started coverage on Climb Bio in a report on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price objective for the company. Truist Financial started coverage on Climb Bio in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price objective for the company. Chardan Capital started coverage on Climb Bio in a report on Tuesday, May 5th. They issued a “buy” rating and a $22.00 price objective for the company. Oppenheimer upped their price objective on Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen raised Climb Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Climb Bio in the fourth quarter valued at about $43,000. Blair William & Co. IL acquired a new position in Climb Bio in the fourth quarter valued at about $44,000. Balyasny Asset Management L.P. acquired a new position in Climb Bio in the fourth quarter valued at about $57,000. AQR Capital Management LLC acquired a new position in Climb Bio in the first quarter valued at about $27,000. Finally, Hsbc Holdings PLC grew its stake in Climb Bio by 107.2% in the fourth quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock valued at $99,000 after acquiring an additional 12,800 shares during the period. 69.76% of the stock is owned by institutional investors and hedge funds.

Climb Bio Trading Up 0.4%

NASDAQ CLYM opened at $11.49 on Thursday. The stock has a 50-day simple moving average of $10.06 and a 200 day simple moving average of $6.80. The company has a market capitalization of $657.92 million, a PE ratio of -14.73 and a beta of 0.09. Climb Bio has a 12 month low of $1.16 and a 12 month high of $12.48.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. As a group, sell-side analysts predict that Climb Bio will post -0.87 earnings per share for the current fiscal year.

About Climb Bio

Climb Bio Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of engineered protein therapeutics for the treatment of cancer and immune-mediated disorders. The company’s mission centers on designing biologics with enhanced specificity and functional activity to engage key cellular targets and improve patient outcomes in areas of high unmet need.

At the heart of Climb Bio’s approach is its proprietary protein engineering platform, which combines mammalian cell display, directed evolution and computational modeling.